Investor Presentaiton
En+
GROUP
FINANCIAL STATEMENTS
EN+ GROUP IPJSC
Notes to the Consolidated Financial Statements
for the year ended 31 December 2021
En+ Group Annual Report 2021
EN+ GROUP IPJSC
Notes to the Consolidated Financial Statements
for the year ended 31 December 2021
Geographic information
The Group's operating segments are managed on a worldwide basis, but operate in four principal
geographical areas: the CIS, Europe, Africa and the Americas. In the CIS, production facilities operate in
Russia and Ukraine. In Europe, production facilities are located in Italy, Ireland and Sweden. African
production facilities are represented by the bauxite mines and an alumina refinery in Guinea. In the Americas
the Group operates one production facility in Jamaica, one in Guyana and a trading subsidiary in the United
States of America.
The following table sets out information about the geographical location of the Group's revenue from
external customers and the Group's property, plant and equipment, intangible assets, interests in associates
and joint ventures and goodwill ("specified non-current assets"). The geographical location of customers is
based on the location at which the services were provided or the goods delivered. The geographical location
of the specified non-current assets is based on the physical location of the asset. Unallocated specified non-
current assets comprise mainly goodwill and interests in associates and joint ventures.
Revenue from external customers
Year ended 31 December
2021
Year ended 31 December 2020
USD million
Metals
Consolidated statement of profit or loss and other comprehensive income
Revenue from external customers
Primary aluminium and alloys
Alumina and bauxite
Semi-finished products and foil
Electricity
(i)
Power
8,440
Adjustments
Total
1,916
6.969
10,356
6,969
534
534
381
166
547
60
1,109
1,169
Heat
Other
39
387
426
457
254
711
Inter-segment revenue
126
781
(907)
Total segment revenue
8,566
2,697
(907)
10,356
Operating expenses (excluding depreciation and loss on disposal of PPE)
Adjusted EBITDA
(7,695)
(1,704)
904
(8,495)
871
993
(3)
1,861
Depreciation and amortisation
(570)
(214)
3
(781)
(Loss)/gain on disposal of PPE
(13)
1
(12)
Impairment of non-current assets
(9)
(49)
Results from operating activities
279
731
Share of profits and impairment of associates and joint ventures
976
(5)
Interest expense, net
(431)
(298)
(58)
1,010
971
(729)
Other finance costs, net
(108)
(19)
(127)
Profit before tax
716
409
1,125
Russia
Income tax expense
43
(152)
(109)
Turkey
Profit for the year
759
257
1,016
China
Japan
Additions to non-current segment assets during the year
(987)
(262)
(1,242)
USD million
Consolidated statement of financial position
Metals
Power
USA
Netherlands
Greece
Germany
Poland
EN+ GROUP IPJSC
Notes to the Consolidated Financial Statements
for the year ended 31 December 2021
Adjustments
Total
South Korea
Mexico
Italy
Norway
France
Taiwan
Other countries
Segment assets, excluding cash and cash equivalents and interests in associates
and jointly ventures
11,327
5,632
Investment in Metals segment
4.595
(692)
(4,595)
16,267
Cash and cash equivalents
2,229
333
2,562
Interests in associates and jointly ventures
3,822
10
3,832
Total segment assets
17,378
10,570
(5,287)
22,661
Segment liabilities, excluding loans and borrowings and bonds payable
3,043
1,340
(175)
4,208
Loans and borrowings
7,792
4,596
12,388
Total segment liabilities
10,835
5,936
(175)
16,596
Total segment equity
6,543
4,634
(5,112)
6,065
Total segment equity and liabilities
17,378
10,570
(5,287)
22,661
Consolidated statement of cash flows
Cash flows from operating activities
1,091
805
(6)
1,890
Cash flows from/ (used in) investing activities
128
(211)
6
(77)
Acquisition of property, plant and equipment, intangible assets
(897)
(237)
6
(1,128)
Other investments
(191)
(7)
(198)
Dividends from the jointly controlled entities and other associates
1,170
1,170
Interest received
26
30
56
Other investing activities
20
3
23
Cash flows used in financing activities
Interest paid
(694)
(678)
(1,372)
(465)
(314)
(779)
Restructuring fee and expenses related to issuance of shares
(12)
(14)
(26)
Settlements of derivative financial instruments
(215)
(215)
Other financing activities
(2)
(350)
(352)
Net change in cash and cash equivalents
525
(84)
441
158
Specified non-current assets
Russia
Guinea
Ireland
Sweden
Ukraine
Unallocated
2020
USD million
USD million
5,437
3,873
1,108
772
956
615
744
471
744
471
443
727
367
236
356
211
330
338
314
329
280
103
266
228
267
134
247
164
236
185
2,215
1,315
14,126
10,356
31 December
2021
USD million
2020
USD million
13,294
11,870
232
82
225
606
68
6
229
3,408
3,132
17,090
16,062
STRATEGIC REPORT
CORPORATE GOVERNANCE
FINANCIAL STATEMENTS
Appendices
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